Innoviz Technologies Ltd. (NASDAQ:INVZ – Get Free Report) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 24,390,000 shares, an increase of 62.5% from the February 13th total of 15,010,000 shares. Based on an average trading volume of 12,070,000 shares, the short-interest ratio is currently 2.0 days. Currently, 12.3% of the shares of the company are sold short.
Institutional Trading of Innoviz Technologies
A number of institutional investors have recently added to or reduced their stakes in INVZ. Traynor Capital Management Inc. bought a new stake in shares of Innoviz Technologies during the fourth quarter valued at about $25,000. FNY Investment Advisers LLC purchased a new position in Innoviz Technologies during the fourth quarter valued at approximately $25,000. Lido Advisors LLC purchased a new position in Innoviz Technologies during the fourth quarter valued at approximately $29,000. OneDigital Investment Advisors LLC bought a new stake in Innoviz Technologies during the 4th quarter worth approximately $37,000. Finally, Sprott Inc. bought a new position in Innoviz Technologies in the 4th quarter valued at $54,000. Hedge funds and other institutional investors own 63.26% of the company’s stock.
Innoviz Technologies Stock Up 3.4 %
NASDAQ INVZ opened at $0.65 on Monday. The firm has a market cap of $110.11 million, a P/E ratio of -1.02 and a beta of 0.84. The company’s 50 day moving average is $1.25 and its 200-day moving average is $0.98. Innoviz Technologies has a 12-month low of $0.45 and a 12-month high of $3.14.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on INVZ. Westpark Capital reissued a “buy” rating and set a $2.22 target price on shares of Innoviz Technologies in a research report on Tuesday, February 25th. Rosenblatt Securities reissued a “buy” rating and set a $4.00 price objective on shares of Innoviz Technologies in a report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $3.19.
Read Our Latest Research Report on INVZ
About Innoviz Technologies
Innoviz Technologies Ltd. manufactures and sells automotive grade LiDAR sensors and perception software to enable safe autonomous driving at a mass scale. The company offers InnovizOne, a solid-state LiDAR sensor designed for automakers and robotaxis, shuttles, trucks, and delivery companies requiring an automotive-grade and mass-producible solution to achieve autonomy.
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